Turkish domestic rebar spot prices follow diverse trends

Today, June 3, Turkish domestic rebar spot prices have risen by TRY 200/mt ($6-7/mt) in the Iskenderun and Karabuk regions, while remaining stable in the local currency with only minor changes on US dollar basis in the rest of the country,  as compared to Thursday, May 30, against the backdrop of currency fluctuations and the relatively positive sentiment in the import scrap segment. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 22,800-23,900/mt or $590-619/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 32.20.

Icdas has kept its official dollar-based rebar price stable at $620/mt ex-works today, while the workable rebar prices in the Izmir and Marmara regions vary at $585-605/mt ex-works, down by $5/mt on the lower end for serious buyers and cash payment.

One Iskenderun-based mill has closed its rebar sales today.  Another mill in this region and a few re-rollers are currently offering rebar at TRY 23,900/mt ($619/mt) ex-works and TRY 23,900/mt ($619/mt) ex-warehouse, respectively. In addition, a few re-rollers in this region are offering rebar at TRY 23,600/mt ($611/mt) ex-warehouse, SteelOrbis has heard.

The general sentiment on the demand side is negative ahead of the Feast of Sacrifice holiday, while the supply side is still characterized by a limited availability of rebar sizes.

As of today, rebar offers in the Turkish spot market are as follows:

All prices are ex-warehouse and on actual weight basis. Prices on Turkish lira basis include 20 percent VAT, while prices on US dollar basis exclude VAT.

$1 = TRY 32.20